Japanese companies invited to invest in Indian Pharmaceutical and Medical Devices industry
India has taken several initiatives offering huge Opportunity to the investors: Pharma Secy Dr. Waghela
By PIB Delhi
A webinar on ‘Medical Devices and API sector: Challenges & Emerging Opportunities’ was held on 22nd May, 2020 at 11.30 am for business and trade collaboration between India and Japan in the post COVID-19 scenario. The webinar was organized by the Embassy of India, Tokyo in partnership with the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Govt. of India.
Mr. Sanjay Kumar Verma, Ambassador of India to Japan shared his valuable thoughts on the golden opportunity for India and Japan to further boost their relationship in the context of the ongoing COVID-19 crisis. Dr. P. D. Vaghela, Secretary, Pharmaceuticals presented the sectoral view and the investment opportunities in the pharmaceutical and medical device industry in India. He also presented various initiatives taken by the Government of India to promote trade and business in the country. Mr. Navdeep Rinwa, Joint Secretary, Pharmaceuticals explained the Department’s schemes to promote manufacturing of bulk drugs and medical devices viz. Production Linked Incentive schemes and Promotion of Bulk Drug/Medical Devices Parks and requested the delegates to avail benefits of the schemes.
Representatives of Japan
Pharmaceutical Traders Association and Japan Federation of Medical Devices Associations deliberated on the Post COVID-19 challenges & opportunities for Pharmaceutical & Medical Device sectors and its impact on the global supply chain and suggested that cooperation between the two countries can contribute to stabilize the supply-chain of especially APIs and Medical Devices. Representative of JETRO Chennai also shared insights on challenges and emerging opportunities in API sector and Medical Devices.
Ms. Mona K C Khandhar, Minister (Economic & Commerce), EoI, Tokyo mentioned about the resilience and strength of the Indian economy and detailed on the stimulus & reform packages announced by the Government of India to address the COVID-19 crisis and to improve the investment environment. The advantages of Indian economy, FDI ecosystem & Japan specific facilitation were also mentioned.
Representatives of Japanese subsidiaries Nipro India Corp and Eisai Pharmaceuticals India Pvt Ltd shared a detailed presentation and their experience about ‘Make in India’ program.
Representatives of major Indian Pharmaceutical and Medical Device Associations presented the future growth opportunities and way forward for Pharmaceutical and Medical Device industry in India.
Representatives of State Governments of Gujarat, Telangana, Himachal Pradesh and Goa offered finer details of the investment opportunities in their respective States including package for incentives and taxation benefits, ease of doing business initiatives, land availability, infrastructural facilities, regulatory framework and invited Japanese companies for investing in their respective States.
Representatives of Andhra Pradesh MedTech Zone, Wockhardt, Sun Pharma, Panacea Biotec, and other large numbers of Japanese companies also participated in the webinar as part of G2B and B2B networking.